On 8 April, at the conference dedicated to the 105th anniversary of the Patent Office of the Republic of Latvia (LPO), heads of national and international intellectual property (IP) offices and IP experts highlighted the significant impact of IP on the competitiveness and economic growth of countries and regions.
During the three panel discussions, the participants shared their views on the impact of the IP system on various economic sectors. They discussed proposals on improving communication and cooperation between different sectors, as well as the tasks of national and international IP organizations aimed at strengthening the IP system to promote innovation and growth, which aligns with one of the main EU priorities – economic development and increased competitiveness.
Opening the conference, LPO Director Agris Batalauskis highlighted the LPO’s activities to strengthen the IP system both at the national and international levels: “In recent years, we have been working intensively on the development of the IP system in Latvia; we have been doing our best to improve general awareness and understanding of the importance of IP; we have also been strengthening cooperation with international institutions and national offices. The 105th anniversary is an appropriate moment to have broader-scale discussions with our cooperation partners to share ideas and proposals on how to stimulate innovation, improve the competitiveness of our enterprises, create an environment for the successful commercialization of innovations, and promote creativity and investments, which are essential prerequisites for economic growth.”
“We are currently working on the creation of a system in Latvia that would help develop innovation and scientific research, as well as provide opportunities for the successful use of IP, attracting investments and promoting technological development. This system is especially important for small and medium-sized enterprises, which are the basis of our economy. By ensuring the use of the full potential of IP, we are creating a stable and competitive environment in which entrepreneurs can not only develop and cooperate in Latvia, but also expand their opportunities internationally, attracting foreign investments and strengthening our country's economy and the well-being of our citizens,” stressed Minister for Justice Inese Lībiņa-Egnere.
The first panel discussion on “Leveraging IP for Innovation and Growth: A Focus on Collaboration, Technology Transfer, and SMEs” was dedicated to the overall development of the IP system, the global trends and national IP strategies. The panellists agreed that IP is much more than just a legal right today – it serves as a key driver of innovation, economic growth and competitiveness. Moreover, IP is closely linked to various sectors, including education, science, health, and environmental protection, and its importance is growing worldwide regardless of a country’s development level.
The need to change a traditional approach to IP was emphasized, since in recent years it has become a tool for monetization and strategic planning, helping companies to use research and development results more effectively. The availability of data on current trends in the field of IP is also of great importance for policymakers and businesses to make informed decisions and develop targeted IP strategies.
The discussion highlighted the fact that Europe is lagging behind the US in technological development and digitalisation, especially in the field of artificial intelligence, which has a negative impact on productivity and competitiveness. To reverse this trend, it is vital to invest more in innovation and to strengthen support to innovative start-ups across Europe.
The second panel on “Navigating Patentability in Emerging Technologies: Challenges, Strategies, and Opportunities” examined the current patenting trends in the field of deep tech. The panellists discussed the issues of drafting and obtaining patents on deep-tech inventions, the ways to improve the procedure and adapt it to rapid technological developments, since the lifespan of an invention can sometimes be shorter that the process of obtaining a patent on it. The panellists discussed the effects of artificial intelligence on the patent system, giving examples of its successful application and also warning about the associated risks. They also gave recommendations on what kind of homework should be done by inventors before submitting a patent application.
During the final panel on “Technology Transfer and Commercialization – Connecting Research and Industry”, the panellists discussed the main prerequisites necessary to promote successful cooperation between research institutions and industry. The experts from the three areas – intellectual property, science, and entrepreneurship – discussed the issues of improving cooperation to promote successful commercialization of innovations created by researchers. During the discussion, some serious obstacles to commercialization were identified, one of the key challenges being insufficiently effective communication between the parties involved. This problem emphasizes the need to create such an environment where researchers and entrepreneurs could effectively collaborate, using a common language and understanding, in order to find mutually beneficial solutions. The experts stressed that it is essential for technology transfer centres to promote their services and advantages more actively and clearly to foster closer collaboration with industry and to facilitate the introduction of innovations into the market. The panellists agreed that technology transfer and commercialization are essential prerequisites for transforming innovative research into practical solutions to enhance economic growth.
Closing the conference, the LPO Director pointed out that although IP may seem a complex area, all stakeholders should combine efforts to create an environment in which IP can be discussed in an understandable way, adapting it to the needs of different audiences, so that everyone could use the benefits of this system as successfully as possible. “By cooperating and working together, we can ensure that the IP protection system is used more effectively in Latvia and Europe, paving the way for growth and better results for all of us,” emphasized A. Batalauskis.
Photo by Kristaps Hercs.